United States Lime & Minerals Reports Fourth Quarter and Full Year 2020 Results and Declares Regular Quarterly Cash Dividend

About this update from United States Lime & Minerals, Inc.

[{"type":"text","content":"DALLAS, Jan. 29, 2021 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2020 results: The Company’s revenues in the fourth quarter 2020 were $41.0 million, compared to $38.0 million in the fourth quarter 2019, an increase of $3.0 million, or 8.0%. For the full year 2020, the Company’s revenues were $160.7 million, compared to $158.3 million in the full year 2019, an increase of $2.4 million, or 1.5%. Carthage Crushed Limestone (“Carthage”), which the Company acquired on July 1, 2020, contributed $2.3 million and $4.6 million to the Company’s revenues for the fourth quarter and full year 2020, respectively. The increase in Company revenues in the fourth quarter 2020, compared to the fourth quarter 2019, resulted primarily from increased sales of the Company’s lime and limestone products, principally due to the addition of limestone sales by Carthage to agriculture and roofing customers, and increased sales to the Company’s construction and roofing customers, partially offset by decreased demand from the Company’s oil and gas services customers. The increase in revenues in the full year 2020, compared to the full year 2019, resulted primarily from increased sales, principally due to the addition of limestone sales by Carthage and increased sales to the Company’s construction customers, partially offset by decreased demand from the Company’s oil and gas services, environmental, and steel customers. Both the fourth quarter and full year 2020 revenues were also favorably impacted by increases in the average selling prices for the Company’s lime and limestone products. The Company’s gross profit was $13.2 million in the fourth quarter 2020, compared to $9.8 million in the fourth quarter 2019, an increase of $3.4 million, or 34.8%. Gross profit in the full year 2020 was $47.6 million, an increase of $5.9 million, or 14.2%, from $41.7 million in the full year 2019. The increases in gross profit in the 2020 periods, compared to the comparable 2019 periods, resulted primarily from increases in the average selling prices for the Company’s lime and limestone products, lower fuel costs, and increased operating efficiencies associated, in part, with the new kiln at the Company’s St. Clair facility, which began producing commercially saleable quicklime in the second quarter 2019,...

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